Initial jobless claims for the week ending Sept. 19 arrived at 870,000, up from 860,000 during the previous week, the Labor Department reported on Thursday. … READ MORE >
Joseph Brusuelas
CHART OF THE DAY: Resurgence of pandemic in the U.K.
The sharp sell-off across financial markets on Monday is linked to fears about a global resurgence of the pandemic. Nowhere is that more evident than in the U.K. … READ MORE >
Tracking the spread of COVID-19: A resurgent virus, and a grim milestone
Following a late-summer lull in the coronavirus pandemic, the rate of infections has resumed its increase in the United States and is poised to intensify in the coming weeks, RSM’s modeling shows. … READ MORE >
Initial jobless claims remain elevated at 860,000
The pace of firings in the economy remains well above anything observed during the Great Financial Crisis as 860,000 workers filed for first-time jobless claims for the week ending Sept. 12, a reflection of the deep scarring in the domestic labor market and economy. … READ MORE >
Monetary policy and inflation in the modern era
By adopting a flexible average inflation target, the Fed is using its most important tool — forward guidance – to infuse confidence in investors and the general public that it will do all it can to sustain the economic recovery needed in the wake of the coronavirus. … READ MORE >
Tracking the spread of COVID-19: A summer so foul
There have been more than 6.7 million cases of coronavirus infections and more than 198,000 deaths, according to the WorldoMeters database. Despite improvement in recent weeks, the rate of infections remains elevated heading into the fall. … READ MORE >
Savings, the money supply and inflation during a pandemic-induced recession
The changing structure of the economy, the integration of advanced technology, and broad demographic changes have contributed to the conditions that have all but ended the idea that inflation is always and everywhere a monetary phenomenon. … READ MORE >
CHART OF THE DAY: The velocity of money and recession
The broad and deep shock unleashed by the pandemic has caused the velocity of money to decline to a modern low of 1.1. … READ MORE >
FOMC preview: Updated economic projections
This week, the focus will be on an update of the summary of economic projections, the first look at the Fed’s 2023 forecast and a reiteration that the Fed will keep the policy rate effectively at zero until the economy has recovered. … READ MORE >
CHART OF THE DAY: Higher food costs during the pandemic
The latest consumer price inflation data confirms what we all know – it costs more to eat during the pandemic, but it costs a lot less to drive to your favorite closed restaurant. … READ MORE >